NFT News

NFT is an acronym for a “non-fungible token” minted on a public blockchain.

A non-fungible token is a digital item or asset that cannot be replaced with another while maintaining its intrinsic value. Each NFT in existence is unique. Therefore, although two NFTs may have similar characteristics, each has a unique feature that distinguishes it from another as viewed from the deploying blockchain. For example, there are numerous Bored Ape Yacht Club (BAYC) NFTs. However, each digital representation has differentiating characteristics or features that give it value in the primary and secondary markets.

What is the Difference between an NFT and Cryptocurrency?

Cryptocurrencies are digital currencies that run on blockchain technology and are similar to NFTs. However, one primary difference is that a cryptocurrency like BTC or ETH is fungible. This means it can be exchanged for another. Meanwhile, an NFT is unique and cannot be swapped for another.

How Does an NFT Work?

NFTs are created and distributed on the blockchain. The process of creating NFTs is known as minting. Pictures, videos, GIFS, Music, and tweets can be minted as NFTs. The most popular network used for creating and distributing non-fungible tokens is Ethereum. Competing smart contracting platforms like Solana and Waves also support NFTs. Some NFTs have unique features that can make exponentially gain value. Others have utility, finding use in games and more. Depending on the owner, Minted NFTs can be stored in a crypto wallet and listed on an NFT marketplace.

Types of NFTs

Files, including music videos, JPEGs, audios, and more, fit perfectly as non-fungible tokens because of the need to verify ownership, of which the distributed ledger provides automatic provenance. In-game utility items are other popular kinds of NFTs. These can be won or bought in interactive games like Axie Infinity, Alien Worlds, and others. Virtual lands are other NFTs popularized by flagship projects Decentraland and Sandbox on Ethereum. Many virtual land investors project an appreciation in the value of digital real estate in the coming years. At the same time, domain names can be converted into NFTs. However, many browsers do not support these NFTs since their naming system is poorly developed.

Uses of NFTs

NFTs are not just digital items on the blockchain. They can be used to record transactions in the commercial world. Since the blockchain is immutable, records of transactions in real estate, medicine, and academics can be preserved permanently in the form of NFTs. Additionally, NFTs can be used in the world of finance. Some platforms accept NFTs as collateral to obtain loans. The loans are given out as cryptocurrencies and can be converted to fiat.

Where to Buy NFTs

Popular NFT marketplaces are OpenSea, Rarible, Solanart, and Nifty Gateway. A significant consideration when buying NFTs in any marketplace is the minting fees. Ethereum-based NFTs tend to be pricer because of high Gas. Alternative layers like Solana, BNB Chain, and Waves offer comparatively lower mining fees because their networks are scalable. However, being the first and most active, Ethereum-based NFTs are relatively popular.

June NFT Market Boom: Courtyard Tops Sales, CryptoPunks Dominate High-Value Trades
June NFT Market Boom: Courtyard Tops Sales, CryptoPunks Dominate High-Value Trades

The NFT market is experiencing a fresh life as trading volume across leading collections is spiking. Courtyard is leading with 507.68K volume and 5,150 sales.

June 23, 2025
NFT Sales Drop to $116.94M, Courtyard, Guild of Heroes, Immutable & Polygon Outperform in Weekly Sales
NFT Sales Drop to $116.94M, Courtyard, Guild of Heroes, Immutable & Polygon Outperform in Weekly Sales

The data shows that the NFT market is evolving, as evidenced by emerging collections and alternative blockchains at the top of the sales list.

June 23, 2025
NFT Market Weekly Recap: Guild of Guardians Leads Despite Dip as SuperRare and Panini Skyrocket
NFT Market Weekly Recap: Guild of Guardians Leads Despite Dip as SuperRare and Panini Skyrocket

NFT collection, Guild of Guardians, remains the leader of the market in terms of the weekly volume of sales, collecting an impressive amount of $18.93 million.

June 19, 2025
New NFT Report Reveals the 10 Most Socially Active NFT Projects: MASK, ICP, and FET Dominate
New NFT Report Reveals the 10 Most Socially Active NFT Projects: MASK, ICP, and FET Dominate

The NFT space has undergone a dynamic shift in user interaction, as revealed in a recently released social activity report by the Phoenix Group.

June 18, 2025
NFTs Weekly Sales Surge 24% to $142M, Guild of Guardians & Immutable Dominate in Sales
NFTs Weekly Sales Surge 24% to $142M, Guild of Guardians & Immutable Dominate in Sales

This week, upcoming collections led significant growth in the NFT market, while alternative blockchains grabbed top positions amid market shifts.

June 16, 2025
My Neighbor Alice Taps Pudgy Penguins to Introduce ‘The Pudgy Land’ with NFT Integration
My Neighbor Alice Taps Pudgy Penguins to Introduce ‘The Pudgy Land’ with NFT Integration

Pudgy Penguins partners with My Neighbor Alice by unlocking NFT utility, new quests, and cross-chain gameplay by utilizing a new winter-themed update.

June 11, 2025
CryptoPunk #9723 Leads Weekly NFT Sales with $206K Transaction
CryptoPunk #9723 Leads Weekly NFT Sales with $206K Transaction

CryptoPunks dominate NFT sales this week with top transaction hitting $206K as ETH trades above $2,400 showing steady demand for high-value digital assets.

June 8, 2025
NFT Market Overview: Most Selling NFT Collectible Sales & Top 10 NFT Collections of the Week
NFT Market Overview: Most Selling NFT Collectible Sales & Top 10 NFT Collections of the Week

This week’s NFT market showed many notable deals made. Leading the pack on Ethereum was the sale of f(x) wstETH position #690 for $711k, sold three days ago.

June 8, 2025
Vi Powils Appointed CEO of World of Women to Lead Next Growth Phase
Vi Powils Appointed CEO of World of Women to Lead Next Growth Phase

Web3 veteran Vi Powils is undertaking a new role after serving Pudgy Penguins. NFT collection World of Women (WoW) has appointed Vi Powils as its CEO.

By Umair
June 4, 2025
My Neighbor Alice Announces Adventure Airdrop of 500K $ALICE for Community Celebration
My Neighbor Alice Announces Adventure Airdrop of 500K $ALICE for Community Celebration

My Neighbor Alice announces 500K $ALICE airdrop starting from June 3, 2025, celebrating the community with quests, game nights, and NFT rewards.

June 3, 2025
NFT Market Sees Mixed Results, Polygon Leads While Ethereum Collections Rebound
NFT Market Sees Mixed Results, Polygon Leads While Ethereum Collections Rebound

NFT market shows mixed signals as Courtyard leads with $11.47M sales, while STRAT Option and Good Vibes Club post massive growth on Ethereum.

June 1, 2025
NFT Market Sees $3.91M Volume on OpenSea Amid CryptoPunks’ Dominance
NFT Market Sees $3.91M Volume on OpenSea Amid CryptoPunks’ Dominance

NFT market hits $3.91M in daily volume on May 30, 2025, led by CryptoPunks and OpenSea. Top sales, trader activity, and marketplace rankings revealed.

May 31, 2025